The Mutual Fund Dealers Association is reminding dealers and reps that they must put any securities business through their dealer.

A bulletin issued May 24 states that MFDA staff “has become aware that Calgary-based Exclusive Capital Corp. is offering to assist financial planners in distributing exempt (‘off book’) securities,”.

It reminds both dealers and reps that if, “[reps] wish to trade and advise in exempt securities promoted or offered by Exclusive Capital Corp., they can only do so through their member firm in accordance with [MFDA rules].”

If the dealer is, “not prepared to put those securities on its approved product list and allow them to be sold through the dealer”, then reps “cannot advise on, trade in or be compensated for the sale of those securities,” the notice states.